Status of Custodian and “Financial Asset” Election. The parties hereto agree that Custodian is a securities intermediary, and intend that each item of property (whether investment property, financial asset, security, instrument, cash or other property) held in the Collateral Accounts shall be treated as a “financial asset” within the meaning of Sections 8-102(a)(9) and 8-103 of the UCC.
Appears in 2 contracts
Samples: Collateral Custody and Administration Agreement, Administration Agreement
Status of Custodian and “Financial Asset” Election. The parties hereto Company and Custodian agree that Custodian is a securities intermediary and an “intermediary” within the meaning of such term in the Hague Securities Convention, and intend that each item of property (whether investment property, financial asset, security, instrument, cash or other property) held in the Collateral Accounts shall be treated as a “financial asset” within the meaning of Sections 8-102(a)(9) and 8-103 of the UCC.
Appears in 1 contract
Samples: Custody and Administration Agreement
Status of Custodian and “Financial Asset” Election. The parties hereto Company and Custodian agree that Custodian is a securities intermediary and an “intermediary” within the meaning of the Hague Securities Convention, and intend that each item of property (whether investment property, financial asset, security, instrument, cash or other property) held in the Collateral Accounts shall be treated as a “financial asset” within the meaning of Sections 8-102(a)(9) and 8-103 of the UCC.
Appears in 1 contract
